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John Key disappointed but not surprised by Trump's TPP announcement

22 Nov, 2016 7:51pm

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The President-elect shares an update on the Presidential Transition, an outline of some of his policy plans for the first 100 days, including the withdrawal of the United States from Trans-Pacific Partnership.

"Instead we will negotiate fair bilateral trade deals that bring job and industry onto American shores."

Key told reporters in Auckland after touring the visiting US warship USS Sampson that one of the alternatives was that the other 11 countries of the TPP move forward with the deal.

Key acknowledged that Trump campaigned against TPP but added: "The United States isn't an island. It can't just sit there and say it isn't going to trade with the rest of the world so at some point they are going to have to give some consideration to that but naturally we are a bit disappointed."

Meanwhile, with the prospect of the TPP's advantages being diminished without the US, the Government is stepping up its own trade initiatives and reaching across the aisle for a bipartisan approach.

Trade Minister Todd McClay has invited Opposition MPs to join him on a trade mission next week to Iran and Europe.

New Zealand First leader Winston Peters will join McClay on a trip to Italy, France and Britain, and Labour trade spokesman David Clark will join McClay and 17 New Zealand companies on a trade mission to Iran.

McClay will also visit Warsaw to seek the backing of the Polish Government for a NZ-EU free trade agreement, which is likely to be launched next year if there are no objections from member states.

The cross-party initiative is important in the context of recent opposition to the Trans Pacific Partnership (TPP) by Labour, which has traditionally been supportive of free trade; and New Zealand First's historic opposition to free trade deals.

Winston Peters is off to check out agricultural protectionism in Italy and France. Photo/ George Novak

Winston Peters is off to check out agricultural protectionism in Italy and France. Photo/ George Novak